T-Mobile USA, Inc. released certain subsidiary guarantees from its $10 billion revolving credit agreement and related senior notes following a prior debt repayment, simplifying its obligor structure.
Key takeaways
T-Mobile USA released subsidiary guarantees from its $10 billion revolving credit agreement, reducing the number of guarantors.
The release was triggered by the prior repayment of certain legacy indebtedness, as permitted by the credit agreement terms.
The release also applied to indentures governing outstanding senior notes dated April 28, 2013, April 9, 2020, and September 15, 2022.
Following the release, the obligors consist of TMUSA as issuer/borrower and TMUS, Sprint LLC, Sprint Capital Corporation, and Sprint Communications LLC as guarantors.
Similar subsidiary guarantor releases were effected under other TMUSA debt facilities, including export credit agency facilities and its commercial paper program.